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To complement the new
residential and office development and the
rehabilitation of housing and commercial
store-fronts, the Implementation Plan for the
Redevelopment Project made provisions for a
mixed-use development to be located at the heart
of the commercial core on Lankershim Boulevard. A
mixed-use development at this location will
greatly strengthen the NoHo Arts and Entertainment
District.
In 1996, the
Community Redevelopment Agency, in conjunction
with the Los Angeles County Metropolitan Authority
(MTA), contracted a consultant to develop a market
analysis of the commercial core. The analysis
indicated that a mixed-use development would
definitely enhance the area around the newly
constructed Metro Rail Station. North Hollywood’s
proximity to Universal City and downtown Los
Angeles, an its strategic placement as the gateway
to the San Fernando Valley makes this area a prime
location for such development.
The Agency has made
efforts to bring a mixed-used development to the
commercial core since 1999. Presently, CRA is
negotiating with developer J. h. Snyder to make
the proposed development a reality. Mr. Snyder,
who has 40 years of experience as a developer is
planning a $160 million makeover of the area with
1.2 million square feet of new development. His
proposal will include 208,000 square feet of
retail, up to 715,000 square feet of residential
development, up to 800,000 square feet of office
space and a 20,000 square feet community center.
The project would be constructed in three phases.
The proposed housing may include up to 500 new
apartments and 242 live/work units and lofts. The
proposed development will also include a
supermarket, lots of parking and a day care
facility. Mr. Snyder is negotiating with the Los
Angeles Unified School District is exploring
construction of a new high school on a portion of
the mixed-use complex site.
Negotiations
between the J. h. Snyder Company and the CRA have
been ongoing for several months. The Agency has
reviewed conceptual plans and is holding
discussions regarding an agreement. The community
has reviewed the plans and is generally in favor
of the proposal.
Whatever final
agreement emerges between the CRA and the
developer, it must be presented to the Agency
Board and City Council for approval. The CRA is
scheduled to report back to the Board in the near
future as to the status of the negotiations.
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